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Economy - Economics USA

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Associated Press

The Senate passed bill calls for mild cuts in the health care programs for the elderly, poor and disabled, while leaving the food stamp program untouched. A House plan approved by a key committee cuts more deeply across a broader range of social prog

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Associated Press

Fed Chairman Alan Greenspan and his colleagues voted unanimously to boost the rate banks charge each other by a quarter-point, to 4 percent. It was the 12th increase of that size since the Fed began tightening credit in June 2004.

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Agence France Presse

Wal-Mart, seeking a foothold in the world's second largest economy, said it would take a majority stake in loss-making Seiyu. The move raises the prospect that Wal-Mart will try to bring its style of low-cost megastores to Japan.

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One concern for the Fed is that the federal funds rate is no longer well below the so-called “neutral” level at which monetary policy neither restricts nor stimulates activity. But there does not yet appear to be a consensus on what should happen nex

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Reuters

Exxon Mobil Corp., the world's largest publicly traded oil company, dismissed a bid by a Chinese company King Win Laurel Ltd. to acquire it for $450 billion in cash.

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by Richard Ebeling (FEE)

[PDF] Seventy years ago, the U.S. Supreme Court said no to economic fascism in America. The trend toward bigger and ever-more intrusive government, unfortunately, was not stopped, but at the time prevented the institutionalizing of a Mussolini-

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John Semmens (FEE)

... Wal-Mart is a “corporate criminal.” Loni Hancock, a California legislator, asserts that Wal-Mart’s fortune “has been built on human misery.” A variety of critics have accused the company of engaging in questionable and exploitive practices....

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GM said in the filing that the Securities and Exchange Commission is also probing "certain transactions" with parts supplier Delphi. The SEC wants to find out more about the obligations that GM, Delphi's former parent, will have to fund

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Agence France Presse

Bush challenged Congress to rein in non-military spending to help foot the bill for disaster relief, and to act on stalled reform of federal retirement and healthcare benefits. "I encourage Congress to push the envelope when it comes to cutting

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Reuters

The subpoenas relate to GM's financial reporting for pension and other post-employment benefits, and transactions between the company and auto parts supplier Delphi Corp., and GM's recovery of various costs from suppliers and supplier price c

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Reuters

President Bush on Monday selected Ben Bernanke, chairman of the president's Council of Economic Advisers, to replace Alan Greenspan as Fed chairman. Bernanke and Greenspan differ on whether the Fed should set targets for inflation — Bernanke yes

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The Village Voice

He wants to curb inflation by establishing a system of target pricing —meaning the powerful Fed would essentially establish a suggested retail price for goods like gasoline. And people are buying stock!!!!

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The Labor Department also reported that the widely followed consumer price index for all urban consumers, rose 1.2 percent last month and 4.7 percent in the 12 months that ended in September. That was the biggest monthly rise since March, 1980, and t

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The Dow drops...homebuilders take a hit...and yet the mood of the American people is still positive...and hallucinatory... The empire has lost its edge...we will be hammered by history...but imperial decline helps us get where we need to go...

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